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Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2015

Summarized Activity in Liability for Unpaid Losses and Loss Adjustment Expenses

Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows:

		Quarters Ended June 30,								Six Months Ended June 30,
(Dollars in thousands)		2015				2014				2015				2014
Balance at beginning of period		$	770,119			$	779,047			$	675,472			$	779,466
Less: Ceded reinsurance receivables			140,508				195,533				123,201				192,491
Net balance at beginning of period			629,611				583,514				552,271				586,975
Purchased reserves, gross			(584	)			—				88,370				—
Less: Purchased reserves ceded			—				—				11,681				—
Purchased reserves, net			(584	)			—				76,689				—
Incurred losses and loss adjustment expenses related to:
Current year			84,724				42,298				157,838				82,964
Prior years			(5,164	)			(4,028	)			(8,659	)			(6,122	)
Total incurred losses and loss adjustment expenses			79,560				38,270				149,179				76,842
Paid losses and loss adjustment expenses related to:
Current year			45,379				15,785				60,061				23,997
Prior years			32,406				30,402				87,276				64,223
Total paid losses and loss adjustment expenses			77,785				46,187				147,337				88,220
Net balance at end of period			630,802				575,597				630,802				575,597
Plus: Ceded reinsurance receivables			138,497				178,998				138,497				178,998
Balance at end of period		$	769,299			$	754,595			$	769,299			$	754,595

X

- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 944



-SubTopic 40



-Section 50



-Paragraph 3



-Subparagraph (b)



-URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14764-158437

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration